• ClearEdge Power

  Participated · Series E · Aug 2011

  ClearEdge Power is a Hillsboro, OR-based manufacturer of scalable, distributed power systems that range from 5 kW to multiple megawatts. Led by President and CEO David B. Wright, the company provides clean, distributed power systems for commercial and utility applications. It has over 30 MW installed across hotels, hospitals, schools, data centers, industrial campuses and utilities. In February the company acquired UTC Power, a developer of fuel cells. On March 18, 2013 ClearEdge raised $36m in equity financing; backers were not disclosed. The company intends to use the capital to support manufacturing operations and expand sales activities. ClearEdge Power designs, manufactures and markets the ClearEdge5, a scalable stationary fuel-cell appliance that converts natural gas to electricity and heat for commercial, institutional and residential buildings. The company targets light commercial applications with a modular solution that can be sized to meet individual energy needs and reduce environmental impact. ClearEdge reports year-over-year revenue growth of more than 480% in the recently completed second quarter of 2011 and has created over 150 high-tech jobs in the last three years (more than 300% growth). Recent milestones include a $2.8 million combined industry and government award from the DOE’s Pacific Northwest National Laboratory, new customer wins, and international expansion activity including deals tied to South Korea. ClearEdge’s management systems are certified to ISO 9001 and ISO 14001. The company plans to use new funding to grow customer adoption in key commercial markets, expand internationally, and develop and commercialize new products. ClearEdge Power is based in Sunnyvale, California, and Hillsboro, Oregon. The company designs, manufactures and markets the ClearEdge5 system, a proven fuel cell appliance that cleanly converts natural gas to electricity and heat. The ClearEdge5 is described as offering significant financial and energy savings and a reduced environmental impact. ClearEdge received a $1M strategic investment from Southern California Gas Co. intended to help accelerate product development. The investment is presented as a strategic addition to SoCalGas's clean energy portfolio. The company is led by President and CEO Russell Ford. ClearEdge Power produces the ClearEdge5, a home fuel cell that turns propane or natural gas into hydrogen and then into about 5 kilowatts of electrical power while recapturing heat for water heaters and HVAC. The unit achieves roughly 90 percent efficiency when heat is counted and retails near $50,000 (about $37,500 after government rebates). The company has been in operation for seven years and is focused on expanding adoption, particularly in California where a rebate is available. ClearEdge recently tripled its staff in less than a year and is looking to double it again as it scales. Management intends to use additional funding to improve the technology and drive down the price to reach more middle-class consumers. The article also notes competition from larger-funded firms like Bloom Energy but positions ClearEdge as focused on residential customers.

• Tecogen

  Led · Equity · Jul 2011

  Tecogen develops and manufactures ultra-clean natural gas-driven combined heat and power (CHP) systems that provide electric power or cooling while recovering engine heat for onsite use. The company’s products target commercial and industrial facilities and can reduce energy costs and greenhouse gas emissions. Tecogen has an installed base of more than 2,000 units supported by an established network of engineering, sales and service personnel across the United States. The company is led by president Robert Panora. Proceeds from the recent investment will be used to bring Tecogen’s technology to market and advance commercialization. The article does not disclose other financial metrics or revenue figures.

No current team members are available.